Welcome to Extreme Investor Network: Your Source for Expert Stock Market Insights
The Thursday Market Movers
Welcome to our weekly update on the market movers for Thursday! Today, auto stocks took the lead with companies like BMW, Volkswagen, Mercedes Benz Group, and Porsche all seeing gains. Factors such as UK car sales data, improving macroeconomic conditions in China, and hopes of the US avoiding a recession drove buyer demand for auto stocks.
Additionally, Infineon Technologies continued its positive momentum after a recent upgrade, demonstrating strength in the tech sector.
German Factory Orders and Eurozone Retail Sales in Focus
Looking ahead to Friday, German factory orders will be a focal point for investors. Economists predict a rebound in factory orders in February after a sharp decline in January. Eurozone retail sales will also be closely watched, with expectations for a slight decrease in February.
While European economic indicators are important, the US economic calendar will have a larger impact on market movements.
US Economic Calendar: The US Jobs Report and the Fed
The upcoming US Jobs Report will be a key driver of investor sentiment, particularly in relation to expectations of a June Fed rate cut. Wage growth and nonfarm payrolls data will be closely monitored to gauge the Fed’s future actions.
In addition to the Jobs Report, speeches from FOMC members could provide further insight into the timing of interest rate cuts.
Short-term Forecast
With the focus on the US Jobs Report and Fed speeches, near-term trends for the DAX will be influenced by these factors. Geopolitical tensions and hawkish Fed commentary have already impacted futures markets, with the DAX futures trending downwards.
DAX Technical Indicators
Daily Chart
Technical analysis of the DAX indicates bullish signals, with the index above key moving averages. A return to the 18,500 handle could push the DAX towards its all-time high.
Investors should keep an eye on German factory orders, the US Jobs Report, and FOMC member commentary for further insights into market movements.
However, caution is advised as the DAX is currently in overbought territory, with selling pressure potentially intensifying at higher levels.
For more expert analysis and insights on the stock market, stay tuned to Extreme Investor Network – your trusted source for all things investing and trading.
